New York § 468 Oaths of directors, officers and members of committees

New York Statutes

§ 468 — Oaths of directors, officers and members of committees

New York § 468

Law BNKBanking

Art. 11Credit Unions

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Bluebook

N.Y. Banking § 468 (2026).

Text

  § 468. Oaths of directors, officers and members of committees.  Each\ndirector, officer and member of a committee when first appointed or\nelected, shall take an oath that he will, so far as the duty devolves\nupon him, diligently and honestly administer the affairs of the credit\nunion, and will not knowingly violate, or willingly permit to be\nviolated, any of the provisions of law applicable to such corporation,\nand that he is the owner of at least one share subscribed for by him or\nstanding in his name on the books of the credit union and that the same\nis not hypothecated, or in any way pledged as security for any loan or\ndebt, except as permitted by subdivision four of section four hundred\nfifty-six of this chapter.  The affirmation of share ownership need not\nbe given by any 

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§ 468. Oaths of directors, officers and members of committees. Each\ndirector, officer and member of a committee when first appointed or\nelected, shall take an oath that he will, so far as the duty devolves\nupon him, diligently and honestly administer the affairs of the credit\nunion, and will not knowingly violate, or willingly permit to be\nviolated, any of the provisions of law applicable to such corporation,\nand that he is the owner of at least one share subscribed for by him or\nstanding in his name on the books of the credit union and that the same\nis not hypothecated, or in any way pledged as security for any loan or\ndebt, except as permitted by subdivision four of section four hundred\nfifty-six of this chapter. The affirmation of share ownership need not\nbe given by any director, officer and member of a committee of a\ncorporate credit union. Such oath shall be subscribed by the directors,\nofficers and members of committees making it and certified by any\nofficer authorized by law to administer oaths, and immediately\ntransmitted to the superintendent.\n